Helmerich & Payne, Inc. (NYSE:HP – Get Rating) declared a quarterly dividend on Thursday, June 2nd, Wall Street Journal reports. Stockholders of record on Wednesday, August 17th will be given a dividend of 0.25 per share by the oil and gas company on Thursday, September 1st. This represents a $1.00 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Tuesday, August 16th.
Helmerich & Payne has decreased its dividend by an average of 29.3% per year over the last three years. Helmerich & Payne has a payout ratio of 52.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Helmerich & Payne to earn $2.20 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 45.5%.
Shares of NYSE:HP traded down $1.09 during trading on Thursday, hitting $49.75. 1,066,195 shares of the company traded hands, compared to its average volume of 1,506,448. The stock has a market capitalization of $5.24 billion, a price-to-earnings ratio of -28.11 and a beta of 1.74. The business’s fifty day moving average is $46.51 and its 200-day moving average is $35.91. Helmerich & Payne has a one year low of $20.93 and a one year high of $53.22. The company has a quick ratio of 2.21, a current ratio of 2.43 and a debt-to-equity ratio of 0.20.
Several equities analysts have recently commented on HP shares. Seaport Res Ptn raised Helmerich & Payne from a “neutral” rating to a “buy” rating in a report on Monday, March 14th. TheStreet raised Helmerich & Payne from a “d+” rating to a “c-” rating in a report on Monday, February 7th. Barclays increased their price objective on Helmerich & Payne from $33.00 to $52.00 in a report on Monday, May 2nd. Piper Sandler increased their price objective on Helmerich & Payne from $49.00 to $53.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Morgan Stanley upped their target price on Helmerich & Payne from $29.00 to $40.00 and gave the stock an “underweight” rating in a research report on Monday, April 11th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Helmerich & Payne currently has an average rating of “Hold” and a consensus target price of $40.29.
In other news, Director Hans Helmerich sold 150,000 shares of the stock in a transaction on Thursday, March 10th. The stock was sold at an average price of $42.54, for a total transaction of $6,381,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.35% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in HP. Brinker Capital Investments LLC lifted its holdings in shares of Helmerich & Payne by 4.5% in the first quarter. Brinker Capital Investments LLC now owns 16,123 shares of the oil and gas company’s stock valued at $690,000 after purchasing an additional 687 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Helmerich & Payne by 3.9% in the first quarter. Raymond James & Associates now owns 18,667 shares of the oil and gas company’s stock valued at $799,000 after purchasing an additional 709 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of Helmerich & Payne by 4.2% in the first quarter. HighTower Advisors LLC now owns 18,629 shares of the oil and gas company’s stock valued at $799,000 after purchasing an additional 743 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Helmerich & Payne by 1.9% in the fourth quarter. California State Teachers Retirement System now owns 150,264 shares of the oil and gas company’s stock valued at $3,561,000 after purchasing an additional 2,785 shares in the last quarter. Finally, Captrust Financial Advisors lifted its holdings in shares of Helmerich & Payne by 33.8% in the first quarter. Captrust Financial Advisors now owns 13,157 shares of the oil and gas company’s stock valued at $563,000 after purchasing an additional 3,327 shares in the last quarter. Institutional investors own 88.62% of the company’s stock.
Helmerich & Payne Company Profile (Get Rating)
Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.
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